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China plans to phase out conventional gas-burning cars by 2035

Latest goals call for all new vehicles to be either 'new-energy' or hybrid

Tesla's China-made Model 3s appear at the automaker's Shanghai factory. China's latest new-energy goals are expected to give a lift to other automakers as well, like Japan's Toyota Motor.

BEIJING -- China plans to make all new vehicles sold in 2035 "eco-friendly," part of a goal that promises to give a tailwind to Japanese automakers like Toyota Motor, which specializes in hybrid engines.

Of all new vehicles sold that year in the world's most populous nation, 50% are to be "new-energy" vehicles -- electric, plug-in hybrid or fuel cell-powered. The other half are to be hybrids.

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